Hadera Hashgraph’s parent coin, HBAR, is the talk of the cryptocurrency market after an impressive price climb. In a matter of four weeks, the coin reversed a bearish trend that had continued for more than 1,000 days. With increased investor interest, experts are predicting higher prices, suggesting increased confidence in this enterprise-grade public ledger.
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HBAR was priced at $0.3173 at the time of writing. Even though the coin has lost 10% in the last 24 hours, it has performed very well over the course of a week and a month. In particular, HBAR has retained a large 801% rally in last 30 daysWhich has made the buyers very happy.
What is driving this momentum? A combination of innovative upgrades, partnerships, and market optimism. HBAR’s rebound is more than just a price increase – it’s a shift in the project’s position in the blockchain space.
Aggressive targets in the bull market
Experts expect $5 for HBAR as the bull market for cryptocurrencies continues. A more conservative $2.50 represents huge growth potential if the market peaks in April 2025. This positive attitude is not just established in speculation. Hadera is gearing up for big announcements, including a new privacy layer that will let users build private network instances while connected to the public ledger.
Co-founder of Hadera, Dr. Lyman Baird believes this privacy layer has the potential to transform fields such as finance, healthcare, and supply chain management. Hadera addresses a critical gap in blockchain technology by providing organizations with a secure yet interoperable solution.
Ripple Partnership Boosts HBAR Adoption
Hedera’s growing integration with blockchain-based payment systems is another motivator. Technology, through Drop, plays an important role in the Federal Reserve’s FedNow system, allowing for faster and safer transactions.
Additionally, its interaction with Ripple (XRP) proves that it is a strong competitor in USD transaction handling. Ripple’s possible certification of the RLUSD stablecoin in December could help strengthen HBAR’s position in the payments ecosystem, therefore encouraging acceptance in many areas.
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Performance upgrades set new benchmarks
Hedera isn’t stopping with privacy. A significant upgrade is on the way, potentially increasing transaction throughput to 500,000 transactions per second (TPS). This advancement will make Hadera the fastest blockchain network in the world, a position that could significantly change market dynamics.
$HBAR (Hedera) continues to show significant strength here and may still be in position to continue with ≈$0.504 as a target!
With this goal in play, we can see an additional +192% climb from here to nearly 3X to reach… https://t.co/J1gtwa1Xgl pic.twitter.com/26wq1Tp9ga
— JAVON⚡️Marcus (@JavonTM1) November 29, 2024
While the Relative Strength Index (RSI) points to increasing buying activity, a close approach to overbought levels may signal profit-taking. Still, experts like Jevon Marks remain hopeful, predicting a rise of $0.504, nearly three times its current price.
Open interest in HBAR trading rose 28% to $187 million. Capital inflows reflect increased confidence, suggesting that HBAR growth may continue. Hedera’s progress should be monitored by investors and enthusiasts.
Featured images from Pexels, charts from TradingView
